Coda Octopus Group (NASDAQ:CODA) Lowered to Buy Rating by Wall Street Zen

Coda Octopus Group (NASDAQ:CODA) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

CODA has been the subject of several other research reports. Alliance Global Partners restated a “buy” rating on shares of Coda Octopus Group in a research note on Monday, February 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Coda Octopus Group in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Coda Octopus Group Stock Performance

Shares of CODA opened at $14.40 on Friday. The stock has a 50-day moving average of $11.74 and a two-hundred day moving average of $9.75. The stock has a market cap of $162.29 million, a P/E ratio of 40.00 and a beta of 0.51. Coda Octopus Group has a one year low of $5.76 and a one year high of $14.98.

Coda Octopus Group (NASDAQ:CODA) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. The business had revenue of $7.27 million during the quarter, compared to analysts’ expectations of $6.52 million. Coda Octopus Group had a net margin of 15.55% and a return on equity of 7.36%.

Institutional Investors Weigh In On Coda Octopus Group

Large investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its stake in Coda Octopus Group by 5,475.0% during the third quarter. Bank of America Corp DE now owns 3,122 shares of the company’s stock worth $25,000 after purchasing an additional 3,066 shares during the period. Marshall Wace LLP purchased a new stake in shares of Coda Octopus Group in the 2nd quarter valued at approximately $104,000. Quadrature Capital Ltd purchased a new stake in shares of Coda Octopus Group in the 4th quarter valued at approximately $104,000. Trexquant Investment LP acquired a new stake in shares of Coda Octopus Group during the 4th quarter worth approximately $106,000. Finally, Jane Street Group LLC acquired a new stake in shares of Coda Octopus Group during the 4th quarter worth approximately $122,000. 20.12% of the stock is currently owned by hedge funds and other institutional investors.

Coda Octopus Group Company Profile

Coda Octopus Group, Inc is a technology company that develops and sells real-time 3D sonar systems and related solutions for underwater applications. Its flagship Echoscope® real-time 3D sonar system enables clients to visualize subsea structures and seabed conditions in unprecedented detail. The company’s product portfolio also includes BathyCORR® geophysical survey processing software, a range of ROV and USV inspection tools, and advanced subsea positioning and motion reference units. These technologies support tasks such as inspection, maintenance, salvage, survey, and security in challenging marine environments.

The company serves a broad set of industries, including offshore oil and gas, marine mining, defense, civil engineering, telecommunications, and scientific research.